Comments on: Robert Kiyosaki Finally Writes Something I Fully Agree With

By: The Best of Generation X Finance From 2007 : Generation X Finance

The Best of Generation X Finance From 2007 : Generation X Finance — Mon, 31 Dec 2007 17:22:55 +0000

[...] Robert Kiyosaki Finally Writes Something I Agree With [...]

By: Tarun Trikha

Tarun Trikha — Mon, 29 Jan 2007 15:11:48 +0000

Understanding Cash Flow is understanding Financial Freedom. Nice article done and I appreciate the share. Thanx!

http://www.cashyourpassion.com

By: moneysmartlife

moneysmartlife — Mon, 29 Jan 2007 05:18:05 +0000

It makes me smile to think of Flexo sewing a pillow and doing needlepoint

I agree education is the key. Another thing Kiyosaki talks about elsewhere is teaching kids how to make money for themselves instead of being an employee. I think this is another important skill to teach children.

By: Atticus Thomas, CPA

Atticus Thomas, CPA — Sun, 28 Jan 2007 12:46:54 +0000

Most financial columnists constantly repeat simple, basic advice such as pay off credit cards, etc.
I was talking to a recent MBA graduate whose tax return I was preparing. I mentioned that the Roth IRA she had established was a very good move for someone her age. She said they had told her that in college. I commented that you couldn’t depend on Social Security, and again she said they told her that in college. These seem like very simple and obvious concepts, but apparently it takes an MBA to learn about it in the educational system.

By: Tim

Tim — Fri, 26 Jan 2007 18:04:50 +0000

Proposing financial education in the school system is an easy point to agree with. I feel the same way. Nice article.

By: AllFinancialMatters » Blog Archive » JLP’s Weekly Roundup XL

AllFinancialMatters » Blog Archive » JLP’s Weekly Roundup XL — Fri, 26 Jan 2007 16:43:04 +0000

[...] THIS DOESN’T HAPPEN OFTEN: A personal finance blogger (Generation X Finance) fully agrees with something Kiyosaki has written. Hell must have frozen over!! [...]

By: Jen

Jen — Thu, 25 Jan 2007 18:25:47 +0000

I agree that often Kiyosaki’s advice is NOT what the average person should follow. However, he is correct that more people should be taught basic personal finance. As to making room for it in the curriculum I imagine you could integrate it into math courses. After teaching addition and subtraction, introduce the idea of a checkbook, and then have the students solve word problems around the topic: If Mary has her paycheck direct deposited into her bank accounts, with $100 into her savings, how much is deposited into her checking?

By: Lisa Knight

Lisa Knight — Wed, 24 Jan 2007 16:24:45 +0000

This is why I made educating my kiddos my number 1 priority for 2007! And myself along with them .

By: mjh

mjh — Wed, 24 Jan 2007 00:22:06 +0000

“A pair of scissors won�t make anyone financially smarter, but some financial education just might.”

so long as it isn’t Kiyosaki’s particular brand of vague, high risk, financial education.

Or perhaps he is eyeing up a lucrative text-book contract?

By: Jeremy

Jeremy — Tue, 23 Jan 2007 22:41:50 +0000

Certainly it is what could be considered a basic life skill and should be taught by the parents, but when the parents have virtually no finance education, riddled with debt, underfunded retirement and living beyond their means they are in no position to be trying to teach their children personal finance skills. Things have to start somewhere, and the parents aren’t getting it done.

As far as school curriculum changes, there are many classes that could be replaced, or an even easier solution would be to take a basic economics or business class at the high school level and broaden it to incorporate personal finance issues as well.

One of the problems is that high school curriculums are moving towards more flexible scheduling that allows students/parents to tailor their courses to their liking with electives. I remember my senior year in high school where I virtually had one academic course and spent the rest of the day taking gym classes. One of those classes was called lifetime sports or something where we went bowling and learned how to play table tennis.

I have no doubt changes could be made to introduce a one semester course, or to incorporate personal finance into an existing home economics or finance course that could at least cover some of the basics that would get young people off to a much better start than they are now. But I also agree that parenting will embed the bad habits long before schooling can have any effect and it should start with the parents.